1232 Bristol StSanta Ana, CA 92704

Property Details for 1232 Bristol St

Year built

1959

Lot size

0.64 AC

Property size (Sq ft)

5,983 SF

Property type

Other commercial real estate

APN

109-421-21

APU

10942121

Description

This exceptional investment opportunity presents a fee-simple, Class A, 11,150-square-foot medical office building in Santa Ana, California. Currently 100% occupied by DaVita, a leading global dialysis provider with a Ba3/BB credit rating, under a Net Lease (NNN) agreement. The lease commenced February 16, 2018, and has a remaining term of 8.5 years, with three 5-year renewal options. The lease includes attractive 2% annual rent increases, ensuring consistent income growth. The property boasts a strong NOI of $445,763, resulting in a 5.50% cap rate. Situated on a 1.02-acre corner lot at a signalized intersection with high visibility (46,000 vehicles per day) and convenient freeway access, this location benefits from excellent demographics, with average household incomes exceeding $124,000 within a one-mile radius. Santa Ana's robust healthcare sector, representing 15% of its economic activity, further enhances the property's value. The building itself is a build-to-suit facility, featuring 24 dialysis stations, private offices, and dedicated spaces for support staff. The property's strategic location near several prestigious hospitals, including Providence St. Joseph Orange and UC Irvine Medical Center, solidifies its position within a thriving healthcare hub. The global dialysis market's projected growth to $138.7 billion by 2030 underscores the long-term stability and potential of this investment. This offering is ideal for a 1031 exchange.

• Alternative Use

  Use

  Valuation

  Residential

  $1,826,112

  Hospitality

  $1,672,709

  Educational

  $1,391,674

  Medical

  $1,439,536

  Retail

  $2,164,827

Location Insight

City

Santa Ana

County

Orange

State

California

Latitude

33.7314

Longitude

-117.886

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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